For Morgan Stanley and Citigroup, the two banks tipped to lead Blackstone Group's initial public offering, the $4 billion deal offers more than just $160 million in fees.Blackstone's sale would be the largest IPO worldwide this year and eclipse the $683 million raised last month by Fortress Investment Group, a rival private equity and hedge fund manager.JP Morgan Chase, this year's number 1 equity underwriter, and Switzerland's UBS, the IPO leader in 2006, didn't win roles. Goldman Sachs Group, the top merger adviser to buyout firms, also was left out.The managers, which include Merrill Lynch, Credit Suisse, Lehman and Deutsche Bank in more junior roles, may collect a total of $160 million in commissions based on the average 4% fee for IPOs globally this year.John Ford, a spokesman for New York-based Blackstone, declined to comment on probable fees or how the underwriters were selected. (PTI)
